Sham Deficit Cutting

[Marcus Bryant]

http://www.theatlantic.com/politics/archive/2010/11/deficit-reduction/66741/

[Nbadan]

The problem is not as simple as just pointing out specific obligations and being a alarmists about the debt because of those costs....the costs are factored into the system assuming the whole system doesn't crash like it did under the Bush Administration.....the real problem started with the Bush tax-cuts which failed to stimulate private-industry job growth as the do-nothing GOP congress promised, and that continues today and it's costing us trillions in uncollected taxes and unemployment or underemployment.....combine that with a unfunded global war on terror, also costing us trillions which were not accounted by the bush Administration in yearly budgets and the effort to bankrupt Medicaid and placate Grey hairs with free drugs for votes with the expansion of Medicare Part D...

....a raise in taxes would not be necessary without all these unfunded liabilities, but even that would not be necessary if the Bush tax cuts had not been passed at all..

[Nbadan]

..cutting Medicade/Medicare and the Social Security safety net is just what the wing-nuts want...not because its what's best for people, screw the people, but because it is what's best for Wall Street and the corporo-fascists system..

[Winehole23]

http://i.ytimg.com/vi/XhVyV6d7fT8/0.jpg

[Winehole23]

The degree of fudging is heinous.

The war of perception is a war our government wages against us, to inculcate the wrong idea.

[boutons_deux]

the deficit is not a problem.

stopping the wars and stimulating the economy are the priorities.

[Winehole23]

...at what point does a $1T+ structural deficit become a problem?

[coyotes_geek]

...at what point does a $1T+ structural deficit become a problem?

I'm guessing boutons and dan think that point is when there's a republican in the WH.

Bush defecits = bad.

Obama's defecits = 3X Bush's = not a problem.

[admiralsnackbar]

http://i.ytimg.com/vi/XhVyV6d7fT8/0.jpg

My lentils! Ow wow, man... :depressed

[Winehole23]

Off target?

[admiralsnackbar]

Off target?

Not at all! I'm guessing my Neil caption was, though.

Anyway, sorry for the intrusion... as you were, gentlemen. :toast

[Winehole23]

It was the mopey smilie that concerned me.

[admiralsnackbar]

It was the mopey smilie that concerned me.

Ah. Yeah, my failure rate in posting tonight is exceptionally high. I'm going to give it a rest. :lol

[Winehole23]

No need. No one else is paying attention.

[Winehole23]

Neil is mopey to be sure. Maybe I was too slow on the pickup.

[Winehole23]

The smilie threw me off. My bad.

[Wild Cobra]

I'm guessing boutons and dan think that point is when there's a republican in the WH.

Bush defecits = bad.

Obama's defecits = 3X Bush's = not a problem.
No, they're just upset because president Bush didn't try to spend enough to destroy us.

[boutons_deux]

Magic Negro's deficits are caused by reduced tax revenues from the VRWC/Banksters' Great Depression, dubya's bullshit/botched wars, and dubya's tax cuts for the super wealthy.

You Liars blaming MN for dubya's shit is expected, keep it up. We all know you're lying bastards,

[Wild Cobra]

Magic Negro's deficits are caused by reduced tax revenues from the VRWC/Banksters' Great Depression, dubya's bullshit/botched wars, and dubya's tax cuts for the super wealthy.

You Liars blaming MN for dubya's shit is expected, keep it up. We all know you're lying bastards,
Are you trying to convince us that spending so much more isn't a problem?

Do you realize how dumb you sound?

[boutons_deux]

Magic Negro's increment to the deficit by trying to save the American economy is a small, short expense compared to the $Ts wasted on dubya's tax cuts, wars, and dubya's Great Depression.

The deficit crisis, like SS crisis, is pure VRWC lies to advance the VRWC agenda of killing government and causing maximum pain to the citizens in the run up to 2012. It worked in 2010.

[Wild Cobra]

Magic Negro's increment to the deficit by trying to save the American economy is a small, short expense compared to the $Ts wasted on dubya's tax cuts, wars, and dubya's Great Depression.

The deficit crisis, like SS crisis, is pure VRWC lies to advance the VRWC agenda of killing government and causing maximum pain to the citizens in the run up to 2012. It worked in 2010.
I see you are buying the liberal line. How's it feel to be a sucker?

Tax cuts are a good thing, and you can increase or decrease taxes, and the revenue to government still stabilizes at about an 18.3% of GNP. Since increasing taxes reduces the economy, it's the wrong approach. The economy is dynamic, not static. If anything, we want to reduce tax rates farther so the economy increases. That will give the government more revenue with all else equal. As long as an average revenue of about 18.3% of GNP is maintained, you end up with more tax revenue, not less, as you reduce taxes.

[DMX7]

If anything, we want to reduce tax rates farther so the economy increases. That will give the government more revenue with all else equal. As long as an average revenue of about 18.3% of GNP is maintained, you end up with more tax revenue, not less, as you reduce taxes.

So why did the original Bush tax cuts not do shit for the economy then?

[CosmicCowboy]

So why did the original Bush tax cuts not do shit for the economy then?

Tax revenues DID increase through 2008. Unfortunately expenditures increased more.

You clearly have a short memory. The tax cuts weren't responsible for the recent crash.

[boutons_deux]

"tax cuts weren't responsible for the recent crash."

they were DIRECTLY.

$800B+ of dubya's cuts in estate and income taxes were sloshing around and went chasing high returns when bonds were paying nothing. That money went into commodity traders funds to bid up the price of oil and food, into hedge and other equity funds that gambled on the MBS and CDO in the Wall St casino, and into non-bank (aka unregulated) mortgage lenders that fueled the housing and sub-prime booms.

And let's not forget the 50K Americans discovered to have secret, tax evading bank accounts in Switzlerland.

[boutons_deux]

These are long, so I doubt sound-bite "thinkers" like ST conservatives won't read them.

Economic History Shows Clearly That Tax Cuts for Rich Hurt the Economy

http://www.huffingtonpost.com/robert-creamer/economic-history-shows-cl_b_786643.html?view=print

Roll Back the Reagan Tax Cuts

http://www.truth-out.org/roll-back-reagan-tax-cuts65332?print

Americans have become World Champion Suckers, a sport all countries play but America is the champion

Every time America lets the wealthy run wild, American gets screwed badly.

[TeyshaBlue]

These are long, so I doubt sound-bite "thinkers" like ST conservatives won't read them.


That's pretty funny coming from a rssbot that reposts an OP in a thread thinking it was something completely different.:lmao

btw soundbite thinking > no thinking at all.

[DMX7]

Tax revenues DID increase through 2008. Unfortunately expenditures increased more.

You clearly have a short memory. The tax cuts weren't responsible for the recent crash.

It didn't increase as much as it did under Clinton when tax rates were HIGHER.

I didn't say they were responsible for the crash (more strawman).

[CosmicCowboy]

It didn't increase as much as it did under Clinton when tax rates were HIGHER.

I didn't say they were responsible for the crash (more strawman).

You are just so painfully full of shit.

Clinton's highest tax receipts were in 2000, and these receipts were easily exceeded in 2005, 2006, and 2007.

At least TRY to base your idiotic arguments in facts...

[DMX7]

You are just so painfully full of shit.

Clinton's highest tax receipts were in 2000, and these receipts were easily exceeded in 2005, 2006, and 2007.

At least TRY to base your idiotic arguments in facts...

Do you know what the difference between an increase and a total receipt is, CosmicIdiot?

[DMX7]

(delete)

[CosmicCowboy]

Do you know what the difference between an increase and a total receipt is, CosmicIdiot?

Total receipts were higher under Bush at a lower tax rate than they were under Clintons higher rate.

Give up dumbass. You made a false statement and got called out on it.

The problem wasn't lack of tax revenue, it was out of control spending.

In that regard Bosh sucked.

[DMX7]

You really tore up those strawmen, CosmicIdiot. Well done.

[Wild Cobra]

So why did the original Bush tax cuts not do shit for the economy then?
Because all else isn't equal. It would have been worse without the tax cuts, and restoring the rates will be disastrous.

[boutons_deux]

"restoring the rates will be disastrous."

just another VRWC lie

restoring taxes worse than the deficit caused by the tax cuts?